Gold/Silver Shift; Accelerated Surge into Oct 10 – 14 Projected (22.50/SIZ Target).
10/01/22 Weekly Re-Lay – “Gold & Silver turned back up on Sept 28, in line with cycles and the 21 MARC indicator. That should spur a rally into Oct 10 – 14… Gold & Silver are showing some signs of a new rebound with Silver leading the way. This is the time period (beginning in Sept ‘22) when Silver has been forecast to become more of a leader and overtake Gold with respect to its advances. That should carry forward into 2023.
They set divergent lows this past week, with Silver pulling back to a higher (‘b’ or ‘2’ wave) low as Gold dropped to new lows before rallying. In the process, Gold fulfilled a key intermediate cycle…
Since early-March ‘22, Gold’s entire decline has unfolded in a 66 – 69 day/~9.5 week high (3/08) – low (5/16) – low (7/21) Cycle Progression that projected a multi-week low for Sept. 26 – 28 (and then early-Dec ’22 when a ~9.5 month Cycle Progression also recurs; that is also when Gold would retrace 50% – or 28 months – of its 56-month advance into Aug ‘20).
Gold & Silver bottomed on Sept 28 and then rallied into Friday…
Both remain in intra-year and weekly downtrends but Silver is progressively showing signs of a bottom and could accelerate higher if near-term resistance is exceeded. Platinum & Palladium are also showing more relative strength than Gold.
Silver remains capable of rallying to ~22.50/SIZ or higher, ideally by Oct 14. That would equal Silver’s Feb/Mar ’22 rally while testing the 2022 opening range and the highs of late-May/early-June ’22. 22.20/SIZ is the monthly LHR for Oct ’22 while ~22.50/SIZ would become an upside range target on a daily close above 20.00/SIZ.
A weekly close above 22.20/SIZ would be necessary to neutralize the intra-year downtrend and potentially elevate this rebound to a higher magnitude advance.
(If Silver manages to rally above and close above 22.80/SIZ, it would [reserved for subscribers]…
Gold & Silver are attempting to rally after bottoming and reversing higher on Sept 28, in lockstep with Gold’s daily/weekly cycle and the time when Silver’s inversely-correlated daily 21 High MARC would plunge from 19.38 to 17.86/SIZ over a 4-day period (a bullish scenario).
Gold has neutralized its daily downtrend multiple times but needs a daily close above 1673.1/GCZ to turn its daily trend up and confirm a multi-week low. Gold also rallied back to its descending daily 21 Low MAC but did not (yet) close above it.
That is why it is doubly important that Gold close above 1673.1/GCZ – ideally on Oct 3… Silver rallied to its now-rising daily 21 High MAC but needs a daily close above 19.30/SIZ to confirm a secondary low.
The next daily cycle (high) convergence is on Oct 10 – 13 and could time a future peak.
The XAU & HUI dropped to new intra-year lows, reinforcing the 2022 outlook and the significance of the April ’22 cycle peaks. In the case of the HUI, it has now matched the duration of its Aug’16 – Sept ’18 decline, dropping from Aug ’20 into Sept ’22.
Their April ‘22 peaks were in lockstep with a 29 – 31 week high-high-low-low-(high) Cycle Sequence (most notable in HUI) that helped time most of the primary 3 – 6 month turning points of the past three years. That could produce another multi-week high in Nov ‘22… IF the recent lows hold. The XAU just turned its daily trend up, initially validating the potential for a multi-week rally.
Platinum & Palladium pulled back but remain above their early-Sept lows (like Silver) after Platinum fulfilled its own form of a 4-Shadow signal (after its July/Aug rally exceeded the magnitude of the previous rally) and a 12 – 13 week low-low-low-high-high-(low) Cycle Sequence – at those lows.
If Platinum can rally above – and give a weekly close above – 935.0/PLF it would generate a very positive weekly 21 MAC AND weekly trend signal. Platinum has a good chance of extending this rally into Oct 10 – 14 – the convergence of weekly cycles and wave targets.
Palladium remains positive and could/should spur an overall rally into Oct 7 – ’22. It has been building a base since June and just triggered bullish weekly 21 MAC signals and triggered an outside-week/2 Close Reversal higher on the Sept 30 close. It has remained in a weekly uptrend since early-Aug and could accelerate higher in the coming weeks, with ~2,600/PAZ representing the first upside target.”
Silver is steadily validating what has been discussed throughout this year – that Sept ’22 would usher in the time when Silver begins to overtake Gold (shift in Gold/Silver ratio) and sees stronger rallies due to multiple factors. Silver’s initial intermediate advance is projected to take it up to 22.50/SIZ, but the subsequent action is what could be the most revealing. Both Gold & Silver are setting the stage for accelerated rallies from Sept 28 cycle lows into Oct 10 – 14. The XAU & HUI, Platinum & Palladium all concur.
Can Silver Surge to ~22.50/SIZ in 1 – 2 Weeks? What is Subsequent Upside Target?
What Does (Potential) Shift of Gold/Silver Ratio Portend??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.